Posted on 03 Sep 2015
The steelmaker broke ground for new facilities that produce advanced high-strength steels (AHSS) earlier in the day in Gwangyang on the southern coast, where it already runs a plant to make such products.
It aims to expand its overall annual production capacity of AHSS by 500,000 tons when it completes the new facilities by 2017.
Demand for AHSS is on the rise as it is about 10 percent lighter but more than two times stronger than ordinary car steel sheets, POSCO explained.
POSCO currently operates seven plants at home, including one in Gwangyang, as well as four abroad that produce AHSS. Last year, it churned out a total of 8.5 million tons of such steel sheets.
Steel produced from the new facilities will be supplied to such global carmakers as Volkswagen, General Motors and Toyota, it said.
